KGHM Polska Miedź S.A.

Capital/Financing Update • Oct 27, 2020

Consent to extend the term of a syndicated credit facility agreement

The Management Board of KGHM Polska Miedź S.A. ("Company") announcesthat on 27 October 2020 it consented to extend the term of an unsecuredrevolving syndicated credit facility agreement in the amount of USD 1500 million, which was announced by the Company via a regulatory filingno. 38/2019 on 19 December 2019, by 1 year, that is to 19 December 2025,by submitting a request to the financing banks.

The unsecured revolving syndicated credit facility agreement in theamount of USD 1 500 million was entered into on 20 December 2019 for afive-year tenor and has two one-year extension options exercisable atthe request of KGHM Polska Miedź S.A. (decision to agree for theextension is at the discretion of each syndicate member, proportionallyto the interest held).

The extension of the term of the agreement realises the Strategy of KGHMPolska Miedź S.A. with respect to ensuring long-term financial stabilityby, among others, basing KGHM's financing structure on long-terminstruments.

Moreover, the Management Board of KGHM Polska Miedź S.A. announces thatif the requested change is not realised, the Company will announce thisfact in a separate regulatory filing.

Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of theEuropean Parliament and of the Council of 16 April 2014 on market abuse(market abuse regulation) and repealing Directive 2003/6/EC of theEuropean Parliament and of the Council and Commission Directives2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of theEuropean Union dated 12 June 2014, no. L 173/1)